Alcoa Corporation (NYSE: AA, ASX: AAI) today announced that it
has joined the World Economic Forum’s First Suppliers Hub, a global
repository of innovative suppliers providing materials needed to
support the ambition of industrial decarbonization in the world by
2050.
First Suppliers Hub is a database of global final product and
value chain suppliers created by the First Movers Coalition; both
the First Movers Coalition (FMC) and First Suppliers Hub are within
the World Economic Forum. Members of FMC set a target that at least
10 percent of their annual primary aluminum procurement volumes
meet or exceed the Coalition’s definition for low-carbon primary
aluminum. FMC defines low-carbon as below 3 tonnes CO2e per ton of
primary aluminum on a cradle-to-gate basis. First Suppliers Hub
simplifies First Movers Coalition members’ aim to leverage their
purchasing power by sharing emerging decarbonization technologies
that meet or exceed FMC’s low-carbon levels.
“Alcoa’s breakthrough technologies support our customers’
decarbonization efforts now and into the future,” said Renato
Bacchi, Executive Vice President and Chief Commercial Officer at
Alcoa. “By joining the First Suppliers Hub, we are further
simplifying options for end-users at some of the world’s leading
companies to reduce emissions within their supply chains.
“With ELYSIS®, we are capable of producing aluminum using an
innovative carbon-free smelting process. Alcoa is working to bring
our customers – and the world – closer to a lower carbon
future.”
ELYSIS uses proprietary inert anode technology to eliminate all
direct greenhouse gas emissions from the aluminum smelting process,
making it possible to produce aluminum meeting the FMC definition
when paired with renewable power to the smelter and low-carbon
alumina. Alcoa and its ELYSIS technology partnership recently
announced the next step in developing this technology with an
industrial-scale demonstration project that will provide Alcoa with
an offtake of ELYSIS material to help meet customer needs for more
sustainable solutions.
While ELYSIS offers an exciting future, Alcoa has a portfolio of
products available today to help customers reduce their carbon
footprint.
Alcoa also offers its Sustana® line of products that
includes:
- EcoLum® aluminum that has a carbon footprint one-third the
global industry average;
- EcoSource® alumina produced from a refining portfolio that has
an average emissions intensity that is less than half of the
industry average; and
- EcoDura® aluminum produced with at least 50 percent recycled
content.
For more information on Alcoa’s commitment to a low-carbon
future, including how Alcoa’s global smelting portfolio is 87
percent powered by renewable energy, visit our Sustainability web
page at https://www.alcoa.com/sustainability.
About Alcoa Corporation
Alcoa (NYSE: AA, ASX: AAI) is a global industry leader in
bauxite, alumina and aluminum products with a vision to reinvent
the aluminum industry for a sustainable future. With a values-based
approach that encompasses integrity, operating excellence, care for
people and courageous leadership, our purpose is to Turn Raw
Potential into Real Progress. Since developing the process that
made aluminum an affordable and vital part of modern life, our
talented Alcoans have developed breakthrough innovations and best
practices that have led to greater efficiency, safety,
sustainability and stronger communities wherever we operate.
Dissemination of Company Information
Alcoa intends to make future announcements regarding company
developments and financial performance through its website,
www.alcoa.com, as well as through press releases, filings with the
Securities and Exchange Commission, conference calls, media
broadcasts, and webcasts.
Cautionary Statement on Forward-Looking Statements
This news release contains statements that relate to future
events and expectations and as such constitute forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements include those
containing such words as “aims,” “ambition,” “anticipates,”
“believes,” “could,” “develop,” “endeavors,” “estimates,”
“expects,” “forecasts,” “goal,” “intends,” “may,” “outlook,”
“potential,” “plans,” “projects,” “reach,” “seeks,” “sees,”
“should,” “strive,” “targets,” “will,” “working,” “would,” or other
words of similar meaning. All statements by Alcoa that reflect
expectations, assumptions or projections about the future, other
than statements of historical fact, are forward-looking statements,
including, without limitation, statements regarding forecasts
concerning global demand growth for bauxite, alumina, and aluminum,
and supply/demand balances; statements, projections or forecasts of
future or targeted financial results, or operating performance
(including our ability to execute on strategies related to
environmental, social and governance matters); statements about
strategies, outlook, and business and financial prospects; and
statements about capital allocation and return of capital. These
statements reflect beliefs and assumptions that are based on
Alcoa’s perception of historical trends, current conditions, and
expected future developments, as well as other factors that
management believes are appropriate in the circumstances.
Forward-looking statements are not guarantees of future
performance and are subject to known and unknown risks,
uncertainties, and changes in circumstances that are difficult to
predict. Although Alcoa Corporation believes that the expectations
reflected in any forward-looking statements are based on reasonable
assumptions, it can give no assurance that these expectations will
be attained and it is possible that actual results may differ
materially from those indicated by these forward-looking statements
due to a variety of risks and uncertainties. Such risks and
uncertainties include, but are not limited to: (1) the impact of
global economic conditions on the aluminum industry and aluminum
end-use markets; (2) volatility and declines in aluminum and
alumina demand and pricing, including global, regional, and
product-specific prices, or significant changes in production costs
which are linked to London Metal Exchange (LME) or other
commodities; (3) the disruption of market-driven balancing of
global aluminum supply and demand by non-market forces; (4)
competitive and complex conditions in global markets; (5) our
ability to obtain, maintain, or renew permits or approvals
necessary for our mining operations; (6) rising energy costs and
interruptions or uncertainty in energy supplies; (7) unfavorable
changes in the cost, quality, or availability of raw materials or
other key inputs, or by disruptions in the supply chain; (8) our
ability to execute on our strategy to be a lower cost, competitive,
and integrated aluminum production business and to realize the
anticipated benefits from announced plans, programs, initiatives
relating to our portfolio, capital investments, and developing
technologies; (9) our ability to integrate and achieve intended
results from joint ventures, other strategic alliances, and
strategic business transactions, including the recent acquisition
of Alumina Limited; (10) economic, political, and social
conditions, including the impact of trade policies and adverse
industry publicity; (11) fluctuations in foreign currency exchange
rates and interest rates, inflation and other economic factors in
the countries in which we operate; (12) changes in tax laws or
exposure to additional tax liabilities; (13) global competition
within and beyond the aluminum industry; (14) our ability to obtain
or maintain adequate insurance coverage; (15) disruptions in the
global economy caused by ongoing regional conflicts; (16) legal
proceedings, investigations, or changes in foreign and/or U.S.
federal, state, or local laws, regulations, or policies; (17)
climate change, climate change legislation or regulations, and
efforts to reduce emissions and build operational resilience to
extreme weather conditions; (18) our ability to achieve our
strategies or expectations relating to environmental, social, and
governance considerations; (19) claims, costs, and liabilities
related to health, safety and environmental laws, regulations, and
other requirements in the jurisdictions in which we operate; (20)
liabilities resulting from impoundment structures, which could
impact the environment or cause exposure to hazardous substances or
other damage; (21) our ability to fund capital expenditures; (22)
deterioration in our credit profile or increases in interest rates;
(23) restrictions on our current and future operations due to our
indebtedness; (24) our ability to continue to return capital to our
stockholders through the payment of cash dividends and/or the
repurchase of our common stock; (25) cyber attacks, security
breaches, system failures, software or application vulnerabilities,
or other cyber incidents; (26) labor market conditions, union
disputes and other employee relations issues; (27) a decline in the
liability discount rate or lower-than-expected investment returns
on pension assets; and (28) the other risk factors discussed in
Alcoa’s Annual Report on Form 10-K for the fiscal year ended
December 31, 2023 and other reports filed by Alcoa with the SEC,
including those described in this report. Alcoa cautions readers
not to place undue reliance upon any such forward-looking
statements, which speak only as of the date they are made. Alcoa
disclaims any obligation to update publicly any forward-looking
statements, whether in response to new information, future events
or otherwise, except as required by applicable law. Market
projections are subject to the risks described above and other
risks in the market. Neither Alcoa nor any other person assumes
responsibility for the accuracy and completeness of any of these
forward-looking statements and none of the information contained
herein should be regarded as a representation that the
forward-looking statements contained herein will be achieved.
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version on businesswire.com: https://www.businesswire.com/news/home/20241119586666/en/
Investor Contact: Yolande Doctor 412-992-5450
Yolande.B.Doctor@alcoa.com
Media Contact: Courtney Boone 412-527-9792
Courtney.Boone@alcoa.com
Alcoa (NYSE:AA)
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